Even putting aside Trump’s craziness, remember that most of his own party does not like him and does not support his policies.

The President has the most power over foreign policy and Supreme Court nominations, but those are both less likely to impact you directly.

So, no, Trump is not going to rescind your job offer or your visa, banks are not going to rescind internship or job offers, and you should worry about things you can control.

Reason #2: Candidates and Elections Like This Have Precedent

This was the “ugliest election ever”?

The process was “rigged”?

One candidate was crazy, corrupt, or didn’t have the “right temperament” to lead?

I laughed at all these claims because they indicate that the person doesn’t know anything about history.

Dozens of crazier or nearly-as-crazy things have happened in the past: The ugly campaign between Adams and Jefferson in 1800, the campaigns in 1824 and 1828 and “the corrupt bargain,” Millard Fillmore in the 1850s, the chaos of 1968, and more (see one list here).

I’d say that 90% of my classmates from Stanford have done nothing impressive in the 10-15 years following graduation: Many bounced around from one tech startup to the next, spent long stretches unemployed, or… just don’t do much of anything.

There are some geniuses in this crowd, but the average is lower than commonly thought – and the standard deviation is high.

In this election, the IYIs made a common IYI mistake: They assumed that knowledge in one area automatically transfers to others.

Let’s say that you’re a top venture capitalist who’s good at spotting promising mobile startups…

How, exactly, does that make you a political science expert?

Or enable you to understand the motivations of factory workers in Michigan?

About the Author

Brian DeChesare is the Founder of Mergers & Inquisitions and Breaking Into Wall Street. In his spare time, he enjoys memorizing obscure Excel functions, editing resumes, obsessing over TV shows, traveling like a drug dealer, and defeating Sauron.

Brian,
I am Korean and I have recently recieved MBA admissions from INSEAD and LBS, and now am waiting for US schools. All along my plan was to get an MBA and work in Europe or NYC afterwards in investment banking.

Now that Trump’s in charge, should I aim for getting a job in Europe in 2 years? I hear he has promised to reduce or even eliminate H1-B visa.

1) As I said above, they’re going to crack down on illegal immigration first. H1-B visas are low on the priority list. You can’t take these “campaign pledges” seriously because they always change afterward, Congress blocks different items, etc.

2) Brexit has created a ton of uncertainty around IB in Europe.

Since no one knows exactly what will happen yet, it’s not a great idea to focus solely on Europe.

Yes, typically they are moved to another office such as London, Hong Kong, Tokyo, etc. Returning to NY all depends on the results of the next lottery, so nothing is certain. I am not an expert on the immigration law/chances of receiving a visa so cannot comment on the exact process.

It is very difficult to get into MM PE firms even from bulge brackets and elite boutiques, so it’s even harder coming from Piper Jaffray. You can do it, but you’ll need to do a ton of networking and probably target newer/startup funds… at least if you’re recruiting for US-based PE roles. The bank itself is fine and has good deal flow, but most of the PE recruiting process is based on brand names.

I don’t think China wants to be the world’s policeman, so even if its economy grows to be the biggest on a nominal basis, I think they’ll let the US continue to act in its normal role. My guess is that the world will look more like a multi-polar one, like what existed just before WWI where at least 2-3 countries have about the same amount of power. There may not even be a single reserve currency.

After seeing a lot of bitter/sad posts over the past week, I really enjoyed your take on the election! It’s refreshing to read something like this, and I very much appreciate your humor. I do tend to think that people have been overreacting a bit. Even though Trump being elected is partially legitimizing hate crimes and discrimination, the Congress is going to prevent him from doing anything remotely impactful. And as long as we continue to educate the young ones (I have a 12 year old lil sis) around us and let them know Trump is NOT a role model, we should be ok.

Yes, I think people in the U.S. are too used to their easy lives (relative to, say, the developing world) and like to assume that everything is the end of the world. Yes, it’s concerning, yes, some people will be worse off, but I think there has been a ton of overreaction as well…

Honestly, I wouldn’t worry. You already have the job offer and your visa, so there isn’t much to worry about. And my guess is that the administration will be far tougher on illegal immigration and not do much on the legal immigration/work visa front.

I figured that you are going to use OPT for a while before entering the H1B lottery? If you don’t end up getting the lottery because it’s a crap shoot, you can always marry a US citizen to stay. ;) Otherwise, relocating to London or Hong Kong would be really fun.

Also, this is off topic but would you say putting efforts into entrepreneurship ventures (power washing business) the summer after my freshman year would be more beneficial on a resume for banking than some unpaid wealth management internship?

More beneficial for banking? No, probably not. If you want to do finance, you have to start pretty early these days. So it’s not the best idea to do something else first. You need to prove that you can work in an office, get along with co-workers, etc.

I don’t think that’s terribly likely because the court makes decisions also based on public opinion, which has shifted definitely toward marriage equality. Plus, he’s a lot more LGBT friendly than previous candidates…

I think it’s mostly a farce intended to make people think they can control big events, when it’s mostly not the case (as the elite in a given country usually decide). Also, historically, most democracies never last for the long term (Greece, Rome, etc.). They usually collapse into dictatorships or just disappear.

hi, I have been a subscriber to your channel for a while now, since I decided to develop interest in finance.
I read a lot of your posts through my email. As someone who got out of college two years ago and still has no job, I wondered if you could offer any advice on ways I could further increase my knowledge and get some experience while still applying for jobs?

Incredibly this is one of the more reasoned takes I have seen taken in the day after the Election that shook up the world. This level of nuance is not available today given the doomsday scenarios mentioned from people on both sides interestingly. I am curious what your guess (or estimate) would be for how the next 2 (up until midterms) or 4 years would unfold with a Trump Presidency given the composition of the Congress?

Thanks! I can be reasonable, but only when referencing serial killers… My guess is that Congress will block a lot of what he proposes, so there may not be much actual change. He could probably get through some of the fiscal changes, but I’m less certain about immigration and trade.

Economics is not a real science. Elements of microeconomics, such as supply/demand, hold up reasonably well, but macroeconomics is a bit of a joke. I’d say: “Most economists are notoriously bad at predicting the future / There aren’t likely to be any near-term effects / The hiring market was already down since deal activity has fallen.” So… probably not time to worry about the sky falling just yet.